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Key takeaways
- Instacart has filed for its IPO and could debut as soon as 19 September
- Some red flags in the filing include an overreliance on a small retailer base and flat gross transaction value growth
- But the tech company has increased ad revenue and has a much wider enterprise offering than before, which should tempt Wall Street
Grocery delivery service and pandemic darling Instacart has kicked off its IPO, in another sign that the drought of IPOs and deals may be ending. The company is targeting a much lower valuation than expected, which was inevitable given the macroeconomic conditions, but investors are still excited about what will be one of the biggest IPOs of the year.
Instacart’s IPO is the third announced in as many weeks, laying the foundation for some more blockbuster market debuts after the roaring success of restaurant chain Cava last month. But Instacart itself faces some potential headwinds investors might not be keen on. Here’s everything we know about Instacart’s IPO listing so far.
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